Worldcoin development team raises $115 million
According to Bloomberg, Worldcoin, a cryptocurrency project co-founded by OpenAI founder Sam Altman, and the development team behind Tools for Humanity, raised US$115 million in Series C financing led by Blockchain Capital. Other investors include a16z, Bain Capital Crypto and Distributed Global.
Tools for Humanity co-founder and CEO Alex Blania declined to disclose the company’s valuation in an interview. It said only that the new funds will be used for product expansion and hiring new employees. Alex Blania said in an interview that this round of financing demonstrates the importance of this new project:
"When we started discussing this project three years ago, people made a lot of jokes about us, thinking we read too much science fiction, but that has changed now."
What is WorldCoin?
Worldcoin is essentially an "underlying identity protocol" that uses biometric data provided by the user's eyeball iris to verify identity. Users who successfully complete the iris scan using a machine will receive an airdrop of Worldcoin tokens. The project aims to provide infrastructure for a future where artificial intelligence (AI) technology becomes increasingly powerful, allowing people to distinguish between "real people" and "AI robots" online.
Blockchain technology ensures decentralization
Alex Blania emphasized that the reason why tokens are issued on the blockchain is because blockchain technology can ensure the decentralized nature of Worldcoin. In addition, Alex Blania also pointed out that the number of registered people in Worldcoin is currently close to 2 million, and the project can also play a role in the distribution of "unconditional basic income" because it combines the economic layer and the identity system.
However, the progress of the Worldcoin project is not smooth. Due to logistical issues and security risks to private data, it has been banned by many countries.
This article OpenAI founder’s Worldcoin development team completed $115 million in Series C financing! CEO: Blockchain technology can ensure decentralization first appeared in Zombit.